Noble Markets is an unregulated brokerage firm which did not age well. At first, they did have a lot going for them and their customer base was increasing exponentially. However, now most of their clients are regretting their actions and clearly a large portion of them appear to have their hard earned money stuck with this firm.
We gathered information about the activities of this organisation in order to analyse their true intentions, but the things we found were scary to say the least. We all understand that getting started with trading activities is an adrenaline pumped journey for all of us. Nonetheless, you should never take things for granted and especially when it comes to the brokerage part, you should do solid research.
As far as Noble Markets is considered, the following few paragraphs will be more than enough to make you understand about the way they work. So, turn off any possible distractions around you and continue reading.
Is Noble Markets Regulated and Trustworthy?
Online investing has grown tremendously over the years. Now, the retail investors have access to all the information and the spreads or cost of trading is almost negligible if you stick with the right entities. Moreover, the demand from the retail side is also increasing swiftly and with so many new trading instruments coming into existence, the trend does look stronger than ever before.
As too many new instruments are flooding the markets, obviously regulators can’t catch up to them just yet. Noble Markets is an unregulated entity which is operating from the United Kingdom. However, they are not regulated by the FCA, in fact this platform is not even listed in their database. So, clearly legal status of this firm is not desirable and as such, they can’t be trusted with client’s funds.
Most reputable brokers hold segregated bank accounts just to boost customer confidence and do their best to increase safety of the funds. On the other side of the equation, unregulated brokers only peddle out fancy trading tools or narratives and do their best to make up for their shortfalls. At the end of the day, unregulated brokers have a unjustifiable degree of control over every aspect of their platform and that is not a good sign from the user’s perspective.
As far as contact information goes, we couldn’t find any details as their website is down at the time of creating this post. Given every inch of evidence out there, the chances of them getting operational is very slim.
Noble Markets Trading tools and Interface
MetaTrader is the most preferred and liked trading software on planet Earth. The versatility it provides is unlike any other out there and the degree of customization achievable through it is enough to impress any professional. It also makes the automated trading process much easier and fun. Anyone with basic knowledge about the internet and gadgets can run it and experience trouble free ways of trading.
Sadly, this platform doesn’t support MT4 or 5 and that is a big deal breaker to the vast majority of retail participants. This platform offers basic web based trading interface to their clients. The default trading platform is not good in terms of functionality and any experienced traders would never dare to initiate a position with this kind of setup.
They don’t offer social or any other form of automated trading. Also, their charting tools are very basic in nature and it doesn’t allow the clients to put up customized indicators. In short, the whole thing concerning the platform is kind of outdated and it doesn’t bring any practical features to the table.
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The spreads are also huge and if you are a scalper, then it is next to impossible to scalp out lower time frames. Clearly, this broker is not the one which supports HFT setups. With so many flaws present, you are better off just by ignoring them or else you may have to pay a hefty price for dealing with them.
Account Types and Leverage
A lot of established brokers always put the needs of the customers first and offer account types which suit their trading style and needs. On this brokerage, there are 4 account types wherein for the ultimate low spreads of around 1.2 pips on Eur/Usd, you have to choose the VIP category.
The funny thing about them is that they demand a starting capital of $5,000 which is laughable at best. Many regulated brokers offer accounts for as low as $5 and equip the clients with the same features. So, the capital requirement is ludicrous to say the least. Leverage offered to each category is capped at 1:500 and for any professional trader, it should be more than enough.
The number of instruments available is also huge and it contains all the major forex pairs, stocks, indices and commodities. At the end of the day, due to their capital requirement alone it is advisable not to deal with them. After all, it doesn’t make any sense regardless of which way you look at them, right?
Minimum Balance and Payment Information
As we mentioned before, the minimum amount required to open an account on this platform is $5,000. The average amount required by other regulated counterparts is around $250. We see no reason as to why anyone apart from newbies might be enticed to proceed with them. As they are not regulated, they might offer aggressive bonuses, but don’t accept them under any reason. Payment methods supported by them are wire transfers and major debit or credit cards.
Just like every other shady broker out there, this one also doesn’t share the information about the withdrawal fees and we don’t know the dormant account charges too. Depositing with them carries a lot of risk and certainly the odds are stacked up against you if you choose to use Noble Markets as your primary broker.
As the age of this platform is not that long, there is no information about them on any of the trading relegated forums. However, that doesn’t mean people are happy with them. You can witness the story of the victims on social media platforms and going by the data, they seem to have looted a lot of people in the name of account management services.
Scam platforms are known to boost the confidence of the clients by making them experience a few winning trades in the initial days. Nonetheless, eventually they will reveal their true colors and will slaughter their own customers financially. If you have lost money to them, then immediately get in touch with our experts and tell us the details of the transactions.
We offer our services for free and our aim is to enlighten people about the recovery process and the legal options available to them. Note that, the longer you delay, the more chances the crooks get to flee from the situation. So, take action and let the culprits pay for their mistakes.
Noble Markets Review Conclusion
Noble Markets is a highly unethical, unregulated broker who has nothing out of the ordinary to offer to the clients. They might seem genuine, but that isn’t the case in any way. The management side of this firm is anonymous, their platforms are basic and the customer support aspect is not up to par. Moreover, their regulatory status is also not satisfactory.
Keeping in mind all the facts discussed in this post, it is undeniable that you have to avoid them for your own good. We have been told by many sources that their marketing campaigns are too aggressive and they mainly upsell the people on the idea of managed accounts. Obviously, there is no easy road to the riches and if anyone says otherwise, walk away from the situation immediately.
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